President Abdel Fattah El-Sisi met on 1/8/2022 with Director General of the National Service Projects Authority in the Armed Forces, Major General A.H. Walid Abul-Magd, Chairman of the Board of Directors of the National Contracting Company, Major General A.H. Karam Salem, and from the private sector, Eng. Taha El-Gammal.
The Spokesman for the Presidency said the meeting reviewed the state’s efforts, through the National Service Authority, to localize the industry in cooperation with the private sector.
President El-Sisi gave directives to establish an industrial complex for the production of“polyethylene” to meet the local market’s needs of industrial components used in the development and production process in many vital sectors, and thus reduce the import bill.
The President was briefed on the details of the largest industrial complex of its kind in the Middle East, which is expected to contribute to the production of a large part of the industrial requirements used in many sectors, such as the digital transformation sector, through the production of all fiber works and requirements of cables.
This is in addition to the sector of modern transportation, such as the monorail and the LRT.
The industrial complex will also provide about 35% of the industrial needs for the infrastructure in the “Decent Life” initiative, instead of importing them.
The industrial complex will consist of 6 major factories in various sectors related to “polyethylene” derivatives.
It will include 30 production lines for 1,000 different products, which will contribute to saving hard currency by reducing dependence on imports; it will conform to European specifications and its products will be internationally accredited.
This will open up prospects for export, particularly to African countries which share free trade agreements with Egypt, especially COMESA countries.
The complex will also contain a special sector for training and technical education. It will be established in Upper Egypt, thus providing thousands of job opportunities there.
Source: State Information Service Egypt